Genie Music
Genie Music (Korean: 지니뮤직), a subsidiary of KT Corporation, is a South Korean company that specializes in the production and distribution of music content. Its music streaming service is the second most used in South Korea with 2.5 million subscribers as of June 2018.[4][5]
Not to be confused with Genie Records.
Native name
주식회사 지니뮤직
Blue Cord Technology Co., Ltd.
(as a division)
February 7, 1991
worldwide
music albums, online services
production, distribution
KT StudioGenie: 35.97%[2][3]
CJ ENM: 15.35%
LG U+: 12.70%
History[edit]
The company's history can be traced from the music contents division of Blue Cord Technology, established in 1991. The same division then owned Muz (now Olleh Music), one of the major music portals in the country. The division was also strengthened by the acquisition of Doremi Media (one of South Korea's well-known music publishers) in 2000.
In 2007, Blue Cord was acquired by KT Freetel, and upon merging with the former, made the music division a separate company named KTF Music. In 2009, the company was renamed as KT Music due to the merger of KTF and its parent KT Corporation.
It acquired KMP Holdings in 2012.[6][7][8][9][10][11][12][13]
Following the investment of LG Uplus, the company changed its name to Genie Music in March 2017.[14][15]
In October 2018, Genie Music and CJ ENM's CJ Digital Music merged, with Genie Music being the surviving entity and CJ ENM being the former's second largest shareholder with 15.35%.[2]